Most Commercial Lines Rates Increased Year over Year, Ivans Reports

According to the Ivans Index, a regular premium renewal rate index compiled by the Ivans insurance exchange service, premium renewal rates for commercial auto, businessowners policy (BOP), general liability, commercial property, and umbrella increased year over year in January 2025, while workers compensation saw a decrease.

Month over month, workers compensation saw an increase in premium renewal rate changes, while commercial auto, BOP, general liability, commercial property, and umbrella experienced decreases, according to Ivans.

Premium renewal rate changes by the line of business during January include the following.

• Commercial auto renewal rates averaged 9.41 percent in January, down from 9.99 percent in December but significantly higher than 7.40 percent in January 2024.
• BOP renewal rates were 9.02 percent, decreasing from 9.59 percent in December and slightly down from 9.33 percent in January 2024.
• General liability renewal rates averaged 4.19 percent, rising slightly from 4.16 percent in December but down from 5.38 percent in January 2024.
• Commercial property renewal rates stood at 9.74 percent, falling from 11.12 percent in December and 10.30 percent in January 2024.
• Umbrella renewal rates climbed to 9.47 percent, up from 9.09 percent in December and 6.35 percent in January 2024.
• Workers compensation renewal rates averaged -1.44 percent, up slightly from -1.45 percent in December but down from -0.67 percent in January 2024.

The monthly Ivans Index is based on the analysis of data from more than 120 million commercial insurance transactions.